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Biogen Idec (NASDAQ:BIIB) has been given a consensus recommendation of “Buy” by the twenty-four brokerages that are covering the company, Stock Ratings Network reports. Four analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $363.05.

Biogen Idec (NASDAQ:BIIB) opened at 342.47 on Wednesday. Biogen Idec has a 1-year low of $203.55 and a 1-year high of $358.89. The stock’s 50-day moving average is $324.2 and its 200-day moving average is $314.6. The company has a market cap of $80.872 billion and a P/E ratio of 37.49.

Biogen Idec (NASDAQ:BIIB) last released its earnings data on Wednesday, July 23rd. The company reported $3.49 earnings per share for the quarter, beating the analysts’ consensus estimate of $2.81 by $0.68. The company had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.14 billion. During the same quarter last year, the company posted $2.30 earnings per share. Biogen Idec’s revenue was up 40.5% compared to the same quarter last year. Analysts expect that Biogen Idec will post $13.14 EPS for the current fiscal year.

A number of analysts have recently weighed in on BIIB shares. Analysts at Argus raised their price target on shares of Biogen Idec from $360.00 to $385.00 in a research note on Tuesday, July 29th. They now have a “buy” rating on the stock. Separately, analysts at Zacks reiterated an “outperform” rating on shares of Biogen Idec in a research note on Friday, July 25th. They now have a $404.00 price target on the stock. Finally, analysts at Deutsche Bank reiterated a “buy” rating on shares of Biogen Idec in a research note on Thursday, July 24th. They now have a $430.00 price target on the stock, up previously from $415.00.

Biogen Idec Inc (NASDAQ:BIIB) is a global biotechnology company.

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